Hologic Inc. Files 10-Q for Q3 2024

TL;DR

Hologic's Q3 2024 10-Q is in. Check financials.

AI Summary

Hologic Inc. reported its third-quarter results for the period ending June 29, 2024. The company's filing indicates financial performance and operational details for this period. Specific financial figures and strategic updates are detailed within the report.

Why It Matters

This 10-Q filing provides investors and analysts with a detailed look at Hologic's financial health and operational performance during the third quarter of fiscal year 2024.

Risk Assessment

Risk Level: medium — 10-Q filings are standard financial reports, but the specific details within can reveal risks related to revenue, debt, or market conditions.

Key Players & Entities

• HOLOGIC INC (company) — Filer
• 20240629 (date) — Reporting Period End Date
• 20240730 (date) — Filing Date
• 0000859737 (company) — Central Index Key

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value HOLX NASDAQ Indicate by che

Filing Documents

• holx-20240629.htm (10-Q) — 2212KB
• holx_q3-2024ex311.htm (EX-31.1) — 10KB
• holx_q3-2024ex312.htm (EX-31.2) — 9KB
• holx_q3-2024ex321.htm (EX-32.1) — 5KB
• holx_q3-2024ex322.htm (EX-32.2) — 5KB
• 0000859737-24-000020.txt ( ) — 10378KB
• holx-20240629.xsd (EX-101.SCH) — 64KB
• holx-20240629_cal.xml (EX-101.CAL) — 71KB
• holx-20240629_def.xml (EX-101.DEF) — 355KB
• holx-20240629_lab.xml (EX-101.LAB) — 720KB
• holx-20240629_pre.xml (EX-101.PRE) — 568KB
• holx-20240629_htm.xml (XML) — 1798KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Consolidated Financial Statements (unaudited)

Item 1. Consolidated Financial Statements (unaudited) Consolidated Statements of Income for the Three and Nine Months Ended June 29 , 2024 and July 1 ,2023 3 Consolidated Statements of Comprehensive Income (Loss) for the Three and Nine Months Ended June 29, 2024 and July 1, 2023 4 Consolidated Balance Sheets as of June 29, 2024 and September 30, 2023 5 Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended June 29, 2024 and Year Ended September 30, 2023 6 Consolidated Statements of Cash Flows for the Nine Months Ended June 29, 2024 and July 1, 2023 8

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 9

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 32

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 47

Controls and Procedures

Item 4. Controls and Procedures 49

– OTHER INFORMATION

PART II – OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 50

Risk Factors

Item 1A. Risk Factors 50

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 51

Other Information

Item 5. Other Information 51

Exhibits

Item 6. Exhibits 52

SIGNATURES

SIGNATURES 53 EXHIBITS 2 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) HOLOGIC, INC. CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (In millions, except number of shares, which are reflected in thousands, and per share data) Three Months Ended Nine Months Ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Revenues: Product $ 811.2 $ 799.1 $ 2,467.2 $ 2,522.9 Service and other 200.2 185.3 575.1 562.2 1,011.4 984.4 3,042.3 3,085.1 Costs of revenues: Product 298.2 291.0 913.9 879.3 Amortization of acquired intangible assets 44.4 51.6 134.9 159.3 Impairment of intangible assets and equipment 13.3 179.5 39.2 179.5 Service and other 95.2 94.8 284.2 295.8 Gross profit 560.3 367.5 1,670.1 1,571.2 Operating expenses: Research and development 64.1 72.6 205.5 221.4 Selling and marketing 146.3 149.8 439.4 455.7 General and administrative 94.0 90.2 306.2 299.5 Amortization of acquired intangible assets 5.3 7.1 24.3 21.9 Impairment of intangible assets and equipment 0.4 44.3 5.6 44.3 Contingent consideration - fair value adjustments — — 1.7 ( 12.4 ) Restructuring charges 6.2 2.1 34.8 4.9 316.3 366.1 1,017.5 1,035.3 Income from operations 244.0 1.4 652.6 535.9 Interest income 28.4 32.5 80.3 84.6 Interest expense ( 31.9 ) ( 27.7 ) ( 90.2 ) ( 83.0 ) Other income (expense), net 0.2 5.9 0.8 ( 7.0 ) Income before income taxes 240.7 12.1 643.5 530.5 Provision for income taxes 46.2 52.6 32.6 165.1 Net income (loss) $ 194.5 $ ( 40.5 ) $ 610.9 $ 365.4 Net income (loss) per common share: Basic $ 0.83 $ ( 0.16 ) $ 2.58 $ 1.48 Diluted $ 0.82 $ ( 0.16 ) $ 2.57 $ 1.47 Weighted average number of shares outstanding: Basic 234,604 246,908 236,373 247,319 Diluted 236,466 246,908 238,081 249,393 See accompanying notes. 3 Table of Contents HOLOGIC, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) (In millions) Three Months Ended Nine Months Ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Net income (loss) $ 194.5 $ ( 40.5

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) (All tabular amounts in millions, except number of shares, which are reflected in thousands, and per share data) (1) Basis of Presentation The unaudited consolidated financial statements of Hologic, Inc. ("Hologic" or the "Company") presented herein have been prepared pursuant to the rules of the Securities and Exchange Commission (the "SEC") for quarterly reports on Form 10-Q and do not include all of the information and disclosures required by U.S. generally accepted accounting principles ("GAAP") for annual financial statements. These unaudited financial statements should be read in conjunction with the consolidated financial statements and related notes for the fiscal year ended September 30, 2023 included in the Company's annual report on Form 10-K filed with the SEC on November 21, 2023. In the opinion of management, the unaudited financial statements and notes contain all adjustments (consisting of normal recurring accruals and all other necessary adjustments) considered necessary for a fair presentation of the Company's financial position, results of operations and cash flows for the periods presented. The unaudited consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. The preparation of financial statements in conformity with GAAP requires management to make significant estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from management's estimates if past experience or other assumptions do not turn out to be substantially accurate. Operating results for the three and nine months ended June 29, 2024 are not necessarily indicative of t

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